UK April Inflation Rate at 8.7% Year-on-Year... Lowest in 13 Months

Rishi Sunak, Prime Minister of the United Kingdom
[Photo by Yonhap News]

The inflation rate in the UK for April recorded an annual rate of 8.7%, marking the lowest level in 13 months.

On the 24th (local time), the UK Office for National Statistics (ONS) announced that the UK's inflation rate for April was 8.7% annually. This is the lowest figure since March last year (7.0%). It fell to a single-digit rate for the first time since August last year (9.9%).

Although prices of used cars and cigarettes rose, inflation decreased due to energy prices not increasing significantly. However, the inflation rate for food and non-alcoholic beverages remained at 19.1%, similar to the previous month’s (19.2%), which was the highest in 45 years and 7 months.